Name and explain the service facility/aids to trade which the company ...
A brand consists of any name, term, design, style, words, symbols or any other feature that distinguishes the goods and services of one seller from another. A brand also distinguishes one product from another in the eyes of the customer. All of its elements (i.e., logo, color, shape, letters, images) work as a psychological trigger or stimulus that causes an association to all other thoughts we have about this brand. Tunes, celebrities, and catchphrases are also oftentimes considered brands
The word “brand” is derived from the Old Norse ‘brand’ meaning “to burn,” which refers to the practice of producers burning their mark (or brand) onto their products. Italians are considered among the first to use brands in the form of watermarks on paper in the 1200s. However, in mass-marketing, this concept originated in the 19th century with the introduction of packaged goods.
During the Industrial Revolution, the production of many household items, such as soap, was moved from local communities to centralized factories to be mass-produced and sold to the wider market. Illiteracy was still prevalent and packing crates were handled by stevedores who couldn’t read. Factories branded their logo or insignia on the barrels used and the logo of the companies to which the cargo was being shipped. This allowed the products to be delivered to the proper location. The meaning of “brand” extended to that of the trademark symbol, and communicated to retailers and their customers that mass produced products should be trusted as much as local competitors. Campbell Soup, Coca-Cola, Juicy Fruit gum, Aunt Jemima, and Quaker Oats were among the first U.S. products to be “branded. ”
Name and explain the service facility/aids to trade which the company ...
Service Facilities/Aids to Trade for Target Market Promotion:
1. Advertising:
Advertising is a powerful tool to inform the target market about the product. The company can utilize various advertising channels such as print media, online ads, social media, and television to reach a wider audience.
2. Sales Promotion:
Offering discounts, promotional offers, free samples, and contests can attract customers to try the product. This can help in creating brand awareness and increasing sales.
3. Public Relations:
Maintaining a positive image through press releases, events, and partnerships can build trust and credibility among the target market. This can result in increased customer loyalty and brand reputation.
4. Personal Selling:
Direct interaction with potential customers through sales representatives can help in explaining the product features, benefits, and addressing any queries or concerns. This personalized approach can lead to higher conversion rates.